ERIC Number: ED410838
Record Type: Non-Journal
Publication Date: 1990-Mar
Reference Count: N/A
Risky Business: Risk Management, Loss Prevention and Insurance Procurement for Colleges and Universities. NACUA Publication Series.
No matter what type of insurance or how much actual coverage an individual college or university obtains, it will always pay for its own losses one way or another. This pamphlet is intended to assist colleges and universities to meet that challenge by providing administrators with a structure for analyzing and managing risks and determining the best loss prevention approach. The four sections include discussions on: (1) a general logical process for risk analysis and management; (2) the philosophical underpinnings of risk management; (3) various options for managing risks once they have been identified, including loss control, commercial insurance, and self-insurance; and (4) a "case study" of a hypothetical university's approach risk management decision process including identifying and analyzing the risk, evaluating its potential cost, and choosing appropriate loss coverage for Director's and Officer's insurance. Appended are a list of liability perils and exposures in higher education and a sample guide for an institution requesting broker qualifications and conceptual proposals. (LEE)
Descriptors: Colleges, Cost Estimates, Decision Making, Higher Education, Insurance, Legal Responsibility, Risk Management, Universities
National Association of College and University Attorneys, One Dupont Circle, N.W., Suite 620, Washington, DC 20036; phone: 202-833-8390; fax: 202-296-8379 ($6.50).
Publication Type: Guides - Non-Classroom
Education Level: N/A
Audience: Administrators; Practitioners
Authoring Institution: National Association of Coll. and Univ. Attorneys, Washington, DC.